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The 20-Month Interest Rate Drop
Last Thursday, long-term interest rates fell below 3 percent, a milestone that was unthinkable 12 months ago.
Reasons for the drop varied but much of the move was due primarily to efforts by the Federal Reserve to support the national economy during the pandemic.
In reality, long-term rates have been dropping for almost the last two years. Below, UrbanTurf has created a brief timeline illustrating the trajectory. Tune in Thursday around 10am to see if rates are going to go even lower.
- November 8, 2018 -- 4.94%
- January 3, 2019 -- 4.51%
- April 4, 2019 -- 4.08%
- June 27, 2019 -- 3.73%
- September 5, 2019 -- 3.49%
- March 5, 2020 --3.29%
- May 28, 2020 -- 3.15%
- July 16, 2020 -- 2.98%
See other articles related to: record low mortgage rates, mortgage rates, interest rates
This article originally published at https://dc.urbanturf.com/articles/blog/the-20-month-interest-rate-drop/17094
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